BF.B vs ITW: Correlation
Brown–Forman (BF.B) and Illinois Tool Works (ITW) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BF.B and ITW?
Across a 3-year window, the weekly returns of BF.B and ITW correlate at 0.50, moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.50 over 3. Stretching to 5 years gives 0.46, with an annualized covariance of 324.0 %².
ITW is one of the assets that tracks BF.B most closely: it ranks #3 out of the 36 assets we track against BF.B. The last year tells two different stories: ITW led by 15.6 percentage points, -7.4% for BF.B against +8.2% for ITW. Across three years, the rolling one-year figure varied moderately, from 0.25 to 0.65. One caveat on sizing: BF.B is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BF.B vs ITW: side by side
| BF.B (Brown–Forman) | ITW (Illinois Tool Works) | |
|---|---|---|
| 1-year return | -7.4% | +8.2% |
| 5-year return | -56.8% | +36.1% |
| Volatility (ann.) | 34.0% | 19.0% |
| Beta vs S&P 500 | 0.51 | 0.64 |
| Max drawdown (3Y) | -64.8% | -20.6% |
| Market cap | $12.5B | $80.2B |
| P/E (trailing) | 18.3 | 25.8 |
| Dividend yield | 3.26% | 2.26% |
| Sector / category | Consumer Staples | Industrials |
Year-by-year returns
| Year | BF.B | ITW |
|---|---|---|
| 2022 | -8.9% | -8.5% |
| 2023 | -11.9% | +21.6% |
| 2024 | -32.2% | -1.0% |
| 2025 | -29.3% | -0.4% |
| 2026 | +6.6% | +15.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BF.B and ITW good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BF.B and ITW?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.49 over the last year and 0.46 over 5 years.
Is ITW a good diversifier for BF.B?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bf-b-vs-itw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bf-b-vs-itw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BF.B correlations · ITW correlations
